Will We See a $1,000 Bitcoin in 2016? Analysts Suggest Yes
As 2016 draws to a close, bitcoin prices continue to show strong, upward movement. Depending on the media outlet you prefer, bitcoin is either "storming", "surging" or "creeping" its way back up to $1,000. In the past month alone, bitcoin has surged more than 33%, rising from $732 on 29th November to an annual high of $977.35. At press time, bitcoin was up nearly 5% for the day's trading, capping off a seven-day period in which it saw 20% gains. Should bitcoin prices breach $1,000 (the first time since January 2014), the digital currency could benefit from a....
Related News
Bitcoin has managed to move one step further up the financial stairway, reaching $581 USD as of press time. While the jump isn’t as large as its predecessor, the price of bitcoin hasn’t been this strong in well over a year, and many are breathing a long sigh of relief and hoping things continue to stay this way. Their hopes may come true, with a little push from Counterparty. Naturally, analysts seem to be right where they’ve always been, acknowledging the bitcoin jump while simultaneously advising against investments until further notice. As one source states: “Price has completed a…....
Bitcoin (BTC) has long been touted as a hedge against economic turmoil, and recent global unrest is putting this narrative to the test. Analysts suggest that Bitcoin’s value proposition becomes increasingly evident as geopolitical tensions escalate. In a world where not all countries possess a currency as robust as the US dollar, the top crypto […]
Will Ether be able to replicate the 2016 Bitcoin bull run with DeFi's momentum? Several analysts believe so. Several prominent analysts say Ether (ETH) is on the cusp of a major bull run despite already gaining nearly 65% in 2021. Ethereum has seen explosive growth in decentralized finance and other areas, causing user activity on the blockchain to surge.Ether performance in 2021. Source: Digital Assets DataRaoul Pal, CEO of Real Vision Group, pinpointed the technical structure of ETH's price. He emphasized that the structure is strikingly similar to Bitcoin (BTC) in 2016, which means a....
While bitcoin prices rose sharply in 2016, climbing to multi-year highs, they will likely push even higher in 2017, according to a panel of experts polled by CoinDesk. Propelled forward by numerous forces including strong market momentum, rising interest rates and an influx of new money, the digital currency’s price could surge to fresh, all-time highs next year, the analysts asserted. Bitcoin prices rose more than 100% in 2016, climbing from roughly $430 at the start of the year to $963.14 at around 19:00 UTC on 28th December, according to CoinDesk USD Bitcoin Price Index (BPI) data. When....
Bitcoin has undergone an extremely strong rally since the March lows, rallying from $3,500 to $19,000 now. Analysts are hopeful that further growth is on the horizon. One top Bitcoin quantitative analyst “PlanB” recently said that BTC looks similar now to how it did in late 2016. As many remember, BTC rallied from around $800 at the start of 2017 to $20,000 by the end of the year. Bitcoin Looks Similar to How It Did […]